Summary
Amgen Inc. announced the completion of its acquisition of the worldwide rights to OTEZLA® (apremilast) from Celgene Corporation on November 21, 2019. This strategic move was undertaken in connection with the merger between Celgene and Bristol-Myers Squibb Company. The acquisition of OTEZLA®, a significant psoriasis and psoriatic arthritis treatment, represents a key expansion of Amgen's inflammation portfolio and is expected to contribute to future revenue growth. While the immediate 8-K filing confirms the transaction's closing, Amgen has stated its intention to file detailed financial statements and pro forma information related to the acquired assets in an amendment to this report within 71 days. Investors should monitor these upcoming filings for a comprehensive understanding of the financial impact of this acquisition.
Key Highlights
- 1Amgen completed the acquisition of worldwide rights to OTEZLA® (apremilast) from Celgene Corporation on November 21, 2019.
- 2The acquisition was a condition related to the merger of Celgene with Bristol-Myers Squibb Company.
- 3OTEZLA® is a key drug for treating psoriasis and psoriatic arthritis.
- 4This acquisition is expected to enhance Amgen's inflammation franchise.
- 5Amgen will file detailed financial statements and pro forma information in a future amendment to this 8-K.
- 6The filing incorporates by reference a press release dated November 21, 2019, related to the closing.